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Can you kindly assist me with the solution. Also can you do it in an excel file and share with me through a link if
Can you kindly assist me with the solution. Also can you do it in an excel file and share with me through a link if thats possible. i would really really appreciate it. thank you so much
4) Prepare necessary adjusting entriw at December 31, 2013 for the Microchip THIS COULD BE ONE OF YOUR THREE PROBLEMS Company for each of the following situation. Assume that no nancial statements were prepared during the year and no adjusting entries were recorded. [3 points each) a] On October 1, 2013 Microchip lent $90,000 to another oompany. A note was signed with principal and 10 % interest to be paid on September 30, 2014. b] On November 1, 2013 the company paid its landlord 5 6,000 representing rent for the months of November through January. Prepaid rent was debited. c) On August 1, 2013 collected 5 15,000 in advance rent from another company that is renting a portion of Microchip's factory. The 5 15,000 represents one year's rent and the entire amount was credited to rent revenue. d] Depreciation an machineryr that cost 5 60,000 and have useful life of 10 years and salvage value of $10,000 has not been calculated for the year 9} Microchip began the year with 2,000 in its asset account supplies. During the year $ 6,500 in supplies were purchases and debited to supplies. At year-end, supplies costing 5 3,250 remained on handStep by Step Solution
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